No liability to pay calls on shares etc.
Where unclaimed property is or includes shares in a body corporate, neither the Commonwealth nor ASIC is subject to any obligation: (a) to pay any calls; or (b) to make any contribution to the debts and liabilities of the body corporate; or (c) to discharge any other liability; or (d) to do any other act or thing; in respect of the shares, whether the obligation arises before or after the shares become unclaimed property, but this section does not affect the right of a body corporate to forfeit a share.
Sourced from the Federal Register of Legislation at 17 May 2026. For the latest information on Australian Government law please go to https://www.legislation.gov.au. Verify the current text against the official source before relying on it.
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